EFFECTS OF COMPUTERS ON INTERNAL AUDIT

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 ROSHNI asked over 3 years ago

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CA Sandeep Bohra answered about 3 years ago

**INTRODUCTION** Internal audits are designed to evaluate the effectiveness of an operation's internal controls by first gathering information about how a unit operates, identifying points at which errors or inefficiencies are possible, and identifying system controls designed to prevent or detect such occurrences. Then, they test the application and performance of those controls to assess how well they work. Managers ought to routinely evaluate controls in their department's operations by following the same process. Computers and networks provide most of the information needed for auditing. In order to be effective, auditors must use the computer as an auditing tool, audit automated systems and data, understand the business purposes for the systems, and understand the environment in which the systems operate. The other important uses for computers and networks by auditors are in audit administration **EFFECTS OF COMPUTERS ON INTERNAL AUDIT** -Finance & accounting system has become more automated -Changed the ways auditors used to carry out auditing -Changed audit style from manual audit to audit around computers, & then to audit through computers The key objectives of an audit do not change in a computer environment. The auditor still needs to obtain an understanding of the system in order to assess control risk and plan audit work to minimise detection risk. The level of audit testing will depend on the assessment of key controls. If these are programmed controls, the auditor will need to ‘audit through the computer’ and use CAATs to ensure controls are operating

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered about 3 years ago

Finance & accounting system has become more automated Changed the ways auditors used to carry out auditing

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Data?1494421730 rohit awasthi answered over 3 years ago

Dear Friend > EFFECTS OF COMPUTERS ON INTERNAL AUDIT 1. Finance & accounting system has become more automated 2. Changed the ways auditors used to carry out auditing 3. Changed audit style from manual audit to audit around computers, & then to audit through computers Thanks

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